Mundo Deportivo says that the Reds could pay between €30m (£26.8m, $35.1m) and €40m to win the race.

Liverpool, Arsenal, Tottenham Hotspur, Inter Milan and AC Milan are all reportedly monitoring the future of Rafinha Alcantara ahead of making a move to lure the Brazil international away from Barcelona during the summer transfer window.

Mundo Deportivo claims that Jurgen Klopp's side have been following him closely since the beginning of the 2016-2017 season and are even willing to pay between €30m (£26.8m, $35.1m) and €40m to test the resolves of the Catalan giants.

The 24-year-old versatile midfielder has not travelled to United States with the rest of the Barcelona squad for their pre-season tour as he continues his rehabilitation from a knee operation he underwent in April.

But Mundo Deportivo claim that he is expected to be fit again soon and a number of clubs from the Premier League and the Serie have made enquiries about his availability for a potential summer transfer.

Rafinha had a prolific last campaign under Luis Enrique before sustaining the injury, scoring seven goals and providing five assists in 28 appearances.

However, the player himself recently refused to rule out an exit from the Nou Camp following the departure of Enrique. Despite being favoured by the former coach, his position under Ernesto Valverde could be under threat amid the expected arrival of at least two midfielders.

"My future is open and only God knows what will happen," Rafinha recently said. "I am a Barcelona player and the most important thing now is to recover from my knee injury and then you will see what happens. All I can say is that everything is open."

Mundo Deportivo report the Brazilian will have plenty of options if he finally decides to leave Barcelona with Liverpool, Arsenal, Tottenham Hotspur, Inter and Milan monitoring the situation.

Liverpool could have an edge in the race with Barcelona showing an interest in signing Philippe Coutinho. The publication believe the Merseysiders are ready to submit an offer worth between €30m and €40m.

Rafinha has a €75m release clause in his contract but the reports suggests that such a reduced fee could be enough to convince Barcelona to cash in.

Meanwhile, the Spanish publication claims that Arsenal and Tottenham have also approached the player in the past and are on alert regarding the situation.